Making Rental Housing in the Gap-Market More Affordable Through Green Building Technology

Abstract

There exists a phenomenon whereby “affordable housing” developed by the private sector has become unaffordable. The advancements of the 4th Industrial Revolution, namely Green Building Technology (GBT), provides a possible solution to making rental housing in the gap market more affordable by reducing the tenant’s utility bills. The paper uses a Systematic Literature Review (SLR) to determine: Various GBT’s that can be used; if the Green Building (GB) tenant benefits financially; benefits and barriers for the developer. The findings showed that the incorporation of GBTs can indeed reduce the tenants housing expenditure. The paper makes a strong case for the private sector to build green affordable housing and has found many benefits that enhance the feasibility of such development. These include: increased property value; lower tenant turnover; tax benefits; reduced operating costs among others. The development of Green Buildings should become standard practice as we enter the 4th Industrial Revolution.